SolVin: Wins EBRD as Shareholder for Russian PVC Plant
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved an equity investment of EUR 52 million in SolVin Holding Nederland on the 21st of July. This investment will support the construction of RusVinyl, the largest integrated PVC plant in Russia. Construction of the PVC plant in Kstovo near Nizhniy Novgorod is already ongoing. SolVin Holding Nederland has a 50% stake in RusVinyl.
EBRD’s Board of Directors has also approved an eleven year EUR 150 million loan with a three year grace period to RusVinyl. The terms of this loan will be detailed in an agreement between EBRD and RusVinyl, which is scheduled to be signed in the autumn of 2010.
The Russian authorities are giving great importance to RusVinyl, which is included in the Development Strategy for the chemical and petrochemical industry of Russia of the Ministry of Industry and Trade of the Russian Federation for the period up to 2015. The investment also received the priority status of the Investment Council of the Nizhniy Novgorod region in Russia.
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